#1BANK OF GEORGIA GROUP PLC INVESTOR PRESENTATION 14 November 2023 3Q23 & 9M23 Performance www.bankofgeorgiagroup.com#2Disclaimer - forward looking statements This presentation contains forward-looking statements, including, but not limited to, statements concerning expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position and future operations and development. Although Bank of Georgia Group PLC believes that the expectations and opinions reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations and opinions will prove to have been correct. By their nature, these forward-looking statements are subject to a number of known and unknown risks, uncertainties and contingencies, and actual results and events could differ materially from those currently being anticipated as reflected in such statements. Important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, certain of which are beyond our control, include, among other things: macro risk, including domestic instability; geopolitical risk; credit risk; liquidity and funding risk; capital risk; market risk; regulatory and legal risk; conduct risk; financial crime risk; information security and data protection risks; operational risk; human capital risk; model risk; strategic risk; reputational risk; climate-related risk; and other key factors that could adversely affect our business and financial performance, as indicated elsewhere in this document and in past and future filings and reports of the Group, including the 'Principal risks and uncertainties' included in Bank of Georgia Group PLC's Annual Report and Accounts 2022 and in the 2Q23 & 1H23 Results Report. No part of this document constitutes, or shall be taken to constitute, an invitation or inducement to invest in Bank of Georgia Group PLC or any other entity within the Group, and must not be relied upon in any way in connection with any investment decision. Bank of Georgia Group PLC and other entities within the Group undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. Nothing in this document should be construed as a profit forecast. 2#3The Group delivered a strong performance in 3Q23 and 9M23 Highlights of the quarter Profit GEL 357m ROE 30.7% C/I 28.8% up 23.1% y-o-y Highlights of the first nine months Profit GEL 1,046m ROE 31.1% C/I 28.2% up 29.8% y-o-y Profit, ROAE and Cost:income of the first nine months of 2023 were adjusted for a one-off GEL 21.1 million other income related to the settlement of an outstanding legacy claim September 2023 NPS 59 MAU 1.3m up 25.6% y-o-y 3#4Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY | 3Q23 AND 9M23 RESULTS | APPENDICIES 4#518.0% 10.6% Real GDP y-o-y growth Strong economic growth persisted in the first nine months of the year 2011-2022 average 2021 2022 9M23 2023F 2024F 4.7% 10.5% 10.1% 6.8% 6.8% 5.0% 14.6% 11.6% 11.0% 10.5% 9.7% 9.3% 2.6% 7.3%7.5% 7.7% 8.8% 8.4% 8.3% 5.8% 7.2% Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Source: GeoStat, Galt & Taggart Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 7.0% 5.8% 5.5% Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Key drivers of growth in 3Q23: Robust inflows from tourism and exports, increasing from last year's high base: Tourism revenues up 5.3% y-o-y (+29.2% y-o-y in 9M23) Export of goods increased 1.6% y-o-y (+12.7% y-o-y in 9M23) Strong domestic demand driven by investment and consumption spending Increased activity in the trade, construction, and ICT sectors 5.1% Growth outlook: Real GDP growth is expected at 6.8% in 2023, driven by strong consumption and investment expenditure along with resilient external inflows Geopolitical instability in the region and tight conditions contribute global financial downside risks to the outlook to 5#6Solid external inflows despite recent slowdown given last year's high base Export of goods Export of goods, US$ bn -% change y-o-y Import of goods Import of goods, US$ bn -% change y-o-y 2.0 1.5 1.6 1.2 0.8 50% 5.0 1.6 1.6 40% 4.0 30% 3.0 20% 2.0 50% 3.9 3.9 3.6 O 40% 30% 20% 7.9% 0.4 10% 1.0 10% 1.6% O 0.0 0% 0.0 0% -0.4 -10% -1.0 -10% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Remittances Tourism inflows Tourism revenues, US$ bn Remittances inflow, US$ bn --% change y-o-y 2.0 150% --Tourism revenues, % of 2019 level 16 2.0 --Tourist (overnight) trips, % of 2019 level 150% 1.6 120% 128% 120% 1.2 90% 1.5 0.8 60% 90% 1.0 92.6% 0.4 30% 60% 1.0 1.1 0.9 0.5 0.0 0% 30% 1.4 1.0 1.4 -0.4 -15.1% -30% 0.0 0% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 6 Source: GeoStat, NBG, GNTA#7Low inflation on the back of falling import prices and decreasing domestic price pressures The NBG continues a gradual exit from tight monetary policy Monetary policy rate Annual CPI inflation -Inflation target 16% 16% Annual 14% 5-year average Sep-23 Oct-23 14% Headline CPI 6.9% 0.7% 0.8% 12% 12% Core CPI 4.6% 2.5% 2.1% 10% 10% 8% 6% 4% 2% 0% -2% Feb-14 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Source: GeoStat, NBG Feb-16 Jun-16 Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Jun-18 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21 Jun-21 Oct-21 Feb-22 Jun-22 Oct-22 Feb-23 Jun-23 Oct-23 8% 6% 4% 2% 0% -2% Inflation is expected to remain below the central bank's 3% target throughout the rest of the year The National Bank of Georgia kept its policy rate unchanged at 10.0% on 25 October 2023, indicating the remaining inflation risks despite the recent slowdown The central bank is expected to continue a gradual exit from tight monetary policy 7#8Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Currency movements vs. US$, 12/31/2022 - 10/31/2023 1.2% -0.1% -0.1% -0.2% -1.4% -1.4% -8.8% -25.3% -30.6% -51.1% GEL supported by sustained FX inflows despite some weakening in recent months UAH AZN EUR GEL KZT AMD UZS RUB BYN TRY GEL real effective exchange rate 140 140 REER (Jan 2014 = 100) ......... REER 3-year moving average 130 130 120 120 110 110 100 100 90 90 80 80 80 Jan-17 May-17 Source: NBG Note: +/- means appreciation/depreciation of the corresponding currencies Sep-17 Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 Despite some weakening in recent months, GEL remained broadly unchanged against USD in the first ten months of 2023, after a 12.5% appreciation in 2022 GEL is expected to maintain its current position backed by robust external inflows and positive growth outlook 8#9Sufficient international reserves cushion the economy against external shocks Gross international reserves above US$ 5bn as at end-September 2023 ■Gross international reserves, USD bn ●Gross reserves to ARA metric ratio* Net international reserves, USD bn 104% 100% 100% 5.4 5.4 94% 5.3 92% 93% 92% 93% 4.9 2.5 4.3 3.9 3.5 3.3 3.0 2.8 | - T 1.6 1.5 GI 1.6 1.7 1.8 1.6 - 16 2.2 1.7 12 2.9 18 3.0 3.0 2015 2016 2017 2018 2019 2020 2021 2022 Jul-23 Aug-23 Sep-23 Source: IMF, NBG, BOG * A ratio between 100%-150% is considered adequate In 3Q23, the NBG decreased hard currency purchases as external inflows slowed ■Central bank's interventions, net purchase in US$ m 1Q15 -160 2Q15 3Q15 -27 ■ -40 4Q15 ■ 09- 1Q16 -45 2Q16 243 3Q16 09- 4Q16 -140 1Q17 2Q17 3Q17 90 40 4Q17 1Q18 о 2Q18 3Q18 4Q18 1Q19 2Q19 135 ■30 3Q19 -73 4Q19 -20 ■ 1Q20 -100 2Q20 -121 3Q20 -265 4Q20 -430 1Q21 -164 2Q21 -93 3Q21 -94 4Q21 -4 1Q22 -26■ Net FX purchases by 2020 2021 2022 9M23 NBG, US$ m -916 -355 565 1,390 2Q22 58 3Q22 232 22077 301 1Q23 2Q23 3Q23 461 598 332 Source: NBG 9#10Healthy banking sector, with dollarisation down Bank loan book growth vs. nominal GDP growth Loan and deposit dollarisation Nominal GDP growth, y-o-y Bank credit growth, y-o-y 75% Bank credit growth in constant currency terms, y-o-y 45% 70% 40% 65% 35% 60% 30% 25% 55% 20% 50% 14.9% 15% 13.7% 45% 10% 7.0% 5% 40% 0% 35% -5% -10% 30% 1Q14 3Q14 Source: NBG, GeoStat, BOG 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 ༠༦༠ 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23E 1Q14 Source: NBG 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 ואלת 1Q20 3Q20 3Q20 1921 IZOL Bank loan dollarisation Bank deposit dollarisation Non-performing bank loans to total gross loans in selected countries, 2022 Lithuania Estonia Czech Rep. 0.5% 0.8% 1.5% Georgia 1.5% Slovenia 1.8% Latvia 1.8% Slovakia 1.9% Türkiye 2.0% Poland 2.4% Azerbaijan 2.6% Romania 2.7% North Macedonia 2.8% 50.2% Italy 2.8% Kazakhstan 3.4% 45.0% Uzbekistan 3.5% Hungary 3.9% Croatia Bosnia & Herz. Bulgaria Montenegro Moldova 4.3% 4.5% 4.6% 6.3% 6.4% Greece 6.5% Source: IMF 10#1127.9%29.5%31.2% 35.8% 64.8% 59.6% 52.8%54.7% 47.2% 40.8% Debt-to-GDP ratios started to pick up gradually on the back of healthy lending growth Banking sector loans to households and legal entities as % of GDP Household loans to GDP ■Legal entity loans to GDP Public debt as % of GDP 2010 2011 2012 2013 2014 2015 Source: NBG, GeoStat, BOG 77.6% 71.8% 62.4% 0.7% 62.6% 63.9% 2016 2017 2018 2019 2020 2021 2022 1Q23 2Q23 3Q23E The previous decreases in private debt-to-GDP ratio have created room for healthy credit expansion 31.9% 28.3% 28.8% 29.5% 2010 2011 2012 2013 Source: MOF, GeoStat, BOG 2014 I Domestic public debt to GDP External public debt to GDP 31.0% 36.7% 2015 2016 2017 60.2% 49.7% 40.3% 39.4% 38.9% 40.4% 2018 2019 2020 39.8% 37.5% 38.3% 38.5% 2021 2022 1Q23 2Q23 3Q23 Given the reduced international public debt-to-GDP and economy increased is well- reserves, the Georgian positioned to withstand possible shocks 11 11#12Contents MACROECONOMIC HIGHLIGHTS | GROUP OVERVIEW AND STRATEGY | 3Q23 AND 9M23 RESULTS | APPENDICIES 12#13Who we are A FTSE-250 company with a diversified institutional investor base Retail digital banking leader in Georgia Top of mind and the most trusted bank in Georgia Consistently delivering high profitability (ROE above 25%) Highest standards of corporate governance and a strong focus on ESG Corporate and Investment Banking Net loans: GEL 5.7bn MAU: 4K 31% 44% 24% SME Banking Net loans: GEL 4.4bn MAU: 88K Retail Banking Net loans: GEL 8.1bn MAU: 1,739K Figures are given for JSC Bank of Georgia (standalone), which constituted 95.5% of net loans of Bank of Georgia Group PLC as at 30 September 2023 13#14What we focus on Our strategic priorities Mobile Payments Loyalty Relevant in customers' daily lives Increasing customer Growing payments Excellent customer engagement business experience Our enablers Customer-centricity Data and AI People and culture Brand strength Key medium-term targets c.10% Loan book growth 20%+ ROAE Effective risk management 30-50% Dividend and share buyback payout ratio 14#15Track record of growth and strong performance 37 32 26.1% 58 59 55 46 45 1,263 853 699 727 514 519 295 1,132 1,121 1,046 2019 2020 2021 2022 9M23 Profit (GEL millions) I Digital MAU (thousands) NPS 13.0% 32.4% 31.1% 25.8% 2019 2020 2021 2022 9M23 27.0% ROAE 20%+ 18.9% 19.8% 19.0% 22.0% 12.9% Loan book YoY growth 17.6% 13.9% c.10% 10.2% 2019 2020 2021 4.3% 2022 9M23 Nominal Constant currency basis 2019 ROAE and profit were adjusted for GEL 14.2m (net of income tax) termination costs of a former CEO and executive management 2022 ROAE and profit were adjusted for a one-off GEL 391.1m other income related to the settlement of an outstanding legacy claim, and a one-off GEL 79.3m income tax expense due to an amendment to the corporate taxation model in Georgia applicable to financial institutions 9M23 ROAE and profit were adjusted for a one-off GEL 21.1m other income related to the settlement of an outstanding legacy claim 15#16Returning capital to shareholders Capital distribution* GEL millions PAYOUT RATIO:** 36% 33% 34% 32% 30% 30% 35% 37% Number of shares outstanding (period-end)*** millions 49.2 49.2 49.2 49.2 47.5 1.5 2.0 1.6 45.9 2.3 2.5 2.1 535 Interim 188 dividends/ buyback 257 47.6 47.2 47.5 46.9 45.0 43.8 196 72 80 98 102 122 124 73 No dividend 124 347 62 paid due to Covid-19 184 40 134 pandemic 84 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1H22 1H23 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Sep-23 ■Dividend paid for the year ■Share buyback Ordinary shares outstanding Treasury shares outstanding " In August 2023, the Board of Directors declared an interim dividend of GEL 3.06 per ordinary share in respect of the period ended 30 June 2023 to ordinary shareholders of Bank of Georgia Group PLC. The interim dividend was paid on 27 October 2023 In addition, the Board announced a further share buyback and cancellation programme totalling GEL 62 million. The Company commenced the share buyback and cancellation programme in October 2023, and as at 31 October 2023 the Company bought back 83,826 ordinary shares at a total cost of GEL 9.2 million, out of which 75,425 shares were cancelled as of 2 November 2023 *The 2022 figure for the dividend was revised based on the number of shares eligible for the final dividend **For the purpose of total payout ratio calculation, total buyback amount is divided by outstanding shares before the beginning of the respective programme ***Treasury shares are provided per IFRS and mainly include shares held by Executive and Employee trusts 16#17Our retail customers are becoming more digital and engaged Figures given for JSC Bank of Georgia standalone Monthly active users (Retail) thousands Digital engagement of active customers 71.9% 72.6% 1,632 1,671 1,698 1,739 70.3% 68.7% 1,546 +12.5% y-o-y 65.0% 1,174 1,221 1,263 1,121 1,005 +25.6% y-o-y 47.6% 46.9% 47.7% 45.2% 46.8% 533 551 582 592 454 +30.2% y-o-y Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 MAU - Digital MAU Digital DAU Sep-22 Dec-22 Mar-23 Digital MAU/MAU Jun-23 Sep-23 Digital DAU/Digital MAU 17#18• • Developing our financial super app to fulfill a variety of customer needs . Credit End-to-end online consumer lending Pre-approved credit limits Fully online credit card Savings End-to-end online deposit activation Activation of "piggy bank" • NEW Investments Opening investment account NEW • Managing investment portfolio . Insurance marketplace Motor Third Party Liability insurance (MTPL) • Travel insurance 9:41 Home ჩართე დაზღვევა MOXY Tbilisi-n Total Available Amount 1,788.05 numan ma ill a შეუკვეთე ბარათი Account 405.00 PLUS PLUS Points 147,650 367.65 C Olsasan PRODUCTS FOR YOU Home Porducts • • Lifestyle Offers from partner merchants Buy now, pay later • Daily banking Transactions Payments • Play store 4.7/5 • Loyalty • A VISA App store 4.8/5 . Subscriptions Remittances PLUS Customer Satisfaction Score 90% in 3Q23 • Chat and chat-bot support (90% in 3Q22) • 品 Offers Hub x The Best in Consumer Digital Lending and Best in Bill Payment & Presentment 2023 by Global Finance (Global winner) . • Automatic payments & transfers Digital debit card and debit card ordering Instant P2P payments to other banks Personal finance management Daily spend view and personal budget management 18#19sCoolApp | the first financial mobile application for juniors Figures given for JSC Bank of Georgia standalone Monthly active digital users 9,495 CHECK BALANCE 1 70,322 | მე MONEY REQUEST / BILL SPLIT ი ბალანსი 61,719 24.00 45,117 33,167 C STORIES 100% & ბილურზე თანხის |არიცხვა მოთხოვნა თანხის გადარიცხვა ჩემი ბარათ EXCLUSIVE OFFERS Oct-22 Dec-22 Mar-23 June-23 Sep-23 Addressable market Total available market 414K Serviceable available market 203K · გაყოფა გრილი გადახდა nobma 32.00 + მიაწერე კომენტარი PIGGYBANK სკეიტბორდი ყურსასმენი სპეციალური კინოთეატრ პოპკორნი 49.51 50% ქეშბექი ფასი საჩუქრად FINANCIAL LITERACY MINI- ჩემი ყულაბა. 48.20 ARTICLES ისტორია 27 ოქტომბერი, 2022- შეთავაზებები Serviceable obtainable market 122K HO H GAMIFICATION NEW salaghaha 24.00 0 32.00 9:41 ფონის შეცვლა ჩემი ბალანსი 24.00 AL ال მობილურზე თანხის თანხის ჩუში ჩარიცხვა მოთხოვნა გადარიცხვა ბარათი *გთან. CARD DETAILS & TRANSACTIONS no ორდავა იავა 8.00 C 8.00 გაყოფა (: SOUNDS, HAPTICS & ANIMATIONS ელისი mo FINANCIAL TRACKER მუსიკა კალათბურთი ფონის დაყენე მე ვაჩ სასანთPoem NEW SKIN 19#20Focusing on increasing product sales in retail digital channels Figures given for JSC Bank of Georgia standalone Number of transactions* Share of digital channel transactions Products sales in digital channels** millions thousands 57.5% 60.2% 62.6% 63.9% 65.5% Share of products sold digitally 37.9% 45.2% 44.1% 42.5% 47.1% 26 96 97 87 86 79 12 1 12 671 633 1 58 578 12 11 1 11 21 21 21 37 454 550 39 65 222 21 21 22 20 30 44 62 60 63 33 52 53 613 567 541 511 424 3Q22 4Q22 1Q23 2Q23 3Q23 3Q22 4Q22 1Q23 2Q23 3Q23 ■mBank/iBank/sCoolApp Other digital channels BOG Pay Terminals ■mBank/iBank/sCoolApp Other digital channels ATMs Human-assisted channels *In 2Q23, we changed the methodology of calculating the number of transactions and now include payments, transfers, currency conversions, P2P transactions, cash-ins and cash-withdrawals. Product sales were excluded from the count of transactions. The previous periods have been restated. Other digital channels include smaller-scale channels such as bogpay.ge. Human-assisted channels include branches and a call center **In 2Q23, we changed the methodology of calculating the share of products sold digitally and currently include all types of products sold by the Bank. The previous periods have been restated 20#21Full digital experience for our business customers Monthly active digital users thousands Figures given for JSC Bank of Georgia standalone Number of transactions millions +31.9% +26.1% +6.5% +5.6% + 69 4.9 65 4.6 58 60 4.4 3.9 4.0 52 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 3Q22 4Q22 1Q23 2Q23 3Q23 B S 4 5 86% Customer Satisfaction Score (3Q23) Mil +6 ppts y-o-y 1,124347437.080 226,994.00 0000 84% 4,700 Customer Satisfaction Score (3Q23) 99.906.025.92 The Best Corporate Mobile Banking App 2023 by Global Finance (Global winner) +6 ppts y-o-y 21#22Payments business - our daily touchpoint with customers Acquiring - volume of payment transactions GEL millions +46.3% +16.7% Figures given for JSC Bank of Georgia standalone Issuing - payment MAU thousands +24.8% +3.1% 4,047 1,161 3,469 1,126 3,223 1,083 2,994 1,040 2,766 1,383 1,150 930 1,000 767 996 2,664 1,999 2,224 2,320 1,997 3Q22 4Q22 1Q23 2Q23 3Q23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 POS terminals E-commerce 55.2% Market share in acquiring volumes | Sep 2023 +6.3 ppts YoY 17.3K Active merchants | Sep 2023 +27.7% YoY 22#23Fostering a customer-centric culture NPS* 33 33 39 38 37 42 Oct-17 May-18 Sep-18 Jun-19 Nov-19 Feb-20 34 49 46 47 43 Aug-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 61 60 59 58 58 55 54 52 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Based on an external research by IPM Georgia, surveying a random sample of customers with face-to-face interviews Figures given for JSC Bank of Georgia standalone Engaging with customers proactively and responding in real time Anticipating customer needs, wants, and future behavior Harnessing strong human relationships with data analytics for dynamic customer insights Investing in technology to deliver excellent customer experience MEDALLIA salesforce 23#24Empowering our employees eNPS 46 58 60 61 53 50 Figures given for JSC Bank of Georgia standalone 54 54 | Focusing on employee experience Fostering a high-trust environment and strong feedback culture | Attracting and developing top talent Doing business in line with our core values and business principles Ensuring diversity and equal opportunities in the workplace Nov-19 Nov-20 Apr-21 Nov-21 Apr-22 Nov-22 Apr-23 Employees are engaged 73% High-Performing Organisations Benchmark 70% 2022 and enabled 73% High-Performing Organisations Benchmark Diversity in managerial positions Diversity in senior managerial positions 70% 2023 73% 2022 67% Banking Industry Benchmark Based on the KORN FERRY survey 75% 2023 39% 48% 52% 61% 68% Banking Industry Benchmark ■ Men ■ Women ■ Men ■ Women As at 30 September 2023 24#25Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY | 3Q23 AND 9M23 RESULTS | APPENDICIES 25#26Financial highlights of 3Q23 and 9M23 3023 9M23 30.7% ROE 31.1% 0.6% Cost of credit risk ratio 0.8% 28.8% Cost to income ratio 28.2% 18.5% 30 Sep 2023 CET1 capital Minimum requirement 14.7% Net loans 30 Sep 2023 GEL 19.Obn +17.6% y-o-y +4.0% q-o-q +19.0% y-o-y +3.4% q-o-q On a constant currency basis Deposits 30 Sep 2023 GEL 21.7bn +26.5% y-o-y +10.7% q-o-q +29.4% y-o-y +9.7% q-o-q On a constant currency basis 26#27Strong underlying performance Operating income* +22.0% +32.2% -3.7% 1,873 All currency data are in GEL m unless otherwise stated Net non-interest income* -3.9% 667 250 642 585 564 1,417 685 231 1 27 527 192 271 222 250 192 569 231 1,188 372 396 420 335 848 295 3Q22 4Q22 1Q23 2Q23 3Q23 271 +20.4% -18.0% 222 32 569 82 685 96 96 98 268 125 151 71 341 100 112 119 320 98 89 220 80 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 | Net interest income Net non-interest income 9M22 9M23 Net fee and commission income Net foreign currency gain Net other income *4Q22 figures adjusted for a one-off GEL 391.1m other income related to the settlement of an outstanding legacy claim, and 2Q23 and 9M23 figures were adjusted for a one-off GEL 21.1m other income, related to the settlement of an outstanding legacy claim 27#28Investing for growth while maintaining the focus on efficiency Operating expenses +15.2% +14.9% Cost to income ratio* All currency data are in GEL m unless otherwise stated +3.3% 185 181 179 529 31.0% 1 30.6% 1 164 1 460 161 3 31 32 1 30 1 90 29.1% 3 28.8% 27 27 28 79 55 45 46 45 46 131 26.9% 38 39 110 95 94 96 103 107 306 268 32.5% 28.2% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Salaries and other employee benefits Administrative expenses Depreciation, amortisation and impairment Other operating expenses *4Q22 figures adjusted for a one-off GEL 391.1m other income related to the settlement of an outstanding legacy claim, and 2Q23 and 9M23 figures were adjusted for a one-off GEL 21.1m other income, related to the settlement of an outstanding legacy claim 28#29Strong loan and deposit growth dynamics Loan portfolio +17.6% +19.0% +4.0% +3.4% All currency data are in GEL m unless otherwise stated Deposit portfolio +26.5% +29.4% +10.7% +9.7% 21,744 18,282 19,011 19,647 16,163 16,862 16,993 18,261 18,310 17,193 8,785 11,716 8,487 7,659 8,007 7,895 11,011 10,753 11,569 10,911 8,504 8,854 9,098 9,795 10,225 6,441 6,693 7,398 8,636 10,027 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 ■Net loans GEL Net loans FC ■Client deposits and notes GEL ■Client deposits and notes FC Growth on a constant currency basis 29#30Focusing on profitability while maintaining strong competitive positions Market share - gross loans Market share - customer deposits 42.3% 38.8% 39.5% 39.1% 38.8% 39.4% 40.0% 40.3% 40.1% 40.1% 40.1% 38.7% 38.9% 39.3% 37.4% 36.2% 36.1% 36.7% 37.2% 36.8% Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Bank of Georgia TBC Bank Bank of Georgia TBC Bank Market share - loans to individuals Market share - deposits of individuals 43.4% 44.4% 44.8% 44.6% 45.5% 38.9% 38.8% 38.7% 38.6% 39.6% 38.5% 38.4% 38.4% 38.3% 38.7% 37.5% 38.1% 37.7% 37.9% 36.4% Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Bank of Georgia TBC Bank Market data based on standalone accounts as published by the National Bank of Georgia Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Bank of Georgia TBC Bank 30#31The y-o-y increase in NIM driven by higher loan yield and lower cost of funds Net interest margin 6.6% 6.6% 6.4% 5.7% 5.3% 5.3% Loan yield, cost of funds, cost of deposits 12.6% 12.5% 12.7% 12.6% 11.6% 12.0% 11.4% 6.5% 4.9% 4.6% 4.5% 4.8% 4.7% 5.0% 4.7% 4.1% 4.2% 4.0% 3.6% 3.4% 3.6% 3.6% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Loan yield Cost of funds Cost of client deposits and notes 31 ===#32Healthy loan portfolio Cost of credit risk ratio All currency data are in GEL m unless otherwise stated Loan portfolio quality NPL coverage 89.4% 66.4% 72.8% 70.4% 69.1% 1.0% 0.9% 1.0% 0.8% 0.8% NPL coverage adjusted for the discounted value of collateral 0.8% 0.6% 138.0% 128.9% 128.7% 126.4% 122.1% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 ■ The y-o-y and the q-o-q decrease in cost of credit risk ratio was mainly driven by a reduction in the Retail Banking cost of credit risk on the back of improved unsecured consumer loan book quality 472 471 443 423 398 2.7% 2.4% 2.4% 2.4% 2.4% Sep-22 Dec-22 Mar-23 INPLs Jun-23 NPLs to gross loans Sep-23 32#33Robust bottom-line growth and profitability Profit (adjusted)* +23.1% ROE* +29.8% All currency data are in GEL m unless otherwise stated 34.6% -7.8% 33.7% 32.0% 32.4% 31.1% 30.7% 1,046 27.9% 387 806 357 326 290 301 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Profit (reported) 290 638 +32.4% +23.1% -12.5% ROA* 5.6% 1,067 4.7% 4.8% 4.9% 4.4% 4.4% 4.3% 806 409 357 301 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 *4Q22 figures adjusted for a one-off GEL 391.1m other income related to the settlement of an outstanding legacy claim and a one-off GEL 79.3m income tax expense, and 2Q23 and 9M23 figures adjusted for a one-off GEL 21.1m other income, related to the settlement of an outstanding legacy claim 33#34Strong capital position at Bank of Georgia Evolution of capital ratios during 3Q23 Figures given for JSC Bank of Georgia standalone All currency data are in GEL m unless otherwise stated 30 June 3Q23 2023 profit Business Currency Capital growth impact distribution Capital facility 30 Sep 2023 impact min requirement Minimum requirement (30 Sep Buffer above Potential impact of a 10% GEL devaluation 2023) CET1 capital adequacy ratio 18.7% 1.6% -0.7% -0.1% -1.0% 0.0% 18.5% 14.7% 3.8% -0.9% Tier1 capital adequacy ratio 20.6% 1.6% -0.8% -0.1% -1.0% 0.0% 20.4% 16.9% 3.5% -0.9% Total capital adequacy ratio 22.6% 1.6% -0.9% 0.0% -1.0% 0.3% 22.7% 19.9% 2.8% -0.8% Risk-weighted assets +3.9% 20,104 20,881 Jun-23 Sep-23 In January 2023, the NBG transitioned to IFRS-based accounting The full loading of Basel III capital requirements was completed in March 2023 34#35Strong liquidity position Liquidity coverage and net stable funding ratios* JSC Bank of Georgia standalone (Basel III liquidity) 132.4% 131.9% 130.9% 129.8% 130.1% 128.2% 121.4% Sep-22 Dec-22 Mar-23 111.1% Jun-23 135.7% 134.5% Sep-23 Figures given for JSC Bank of Georgia standalone Net loans to customer funds and DFIs 94.0% 92.3% 92.8% 93.1% 87.4% 84.5% 85.0% 85.9% 83.8% 79.8% Sep-22 Dec-22 Net loans to customer funds Mar-23 Jun-23 Sep-23 Net loans to customer funds and DFIs ■Liquidity coverage ratio ■Net stable funding ratio ■ Since January 2023, the NBG has transitioned to IFRS-based accounting, and the March, June and September 2023 liquidity coverage ratio and the net stable funding ratio have been calculated based on IFRS Both the LCR and the NSFR ratios have been comfortable above the minimum requirement of 100% ■ The increase in LCR was primarily a result of growing deposit portfolio as well as attracting DFI funding to support overall loan growth and liquidity buffers *In January 2023, the NBG transitioned to IFRS-based accounting. The LCR and NSFR figures for 30 September 2022 are not IFRS-based 35#36Diversified funding structure Interest-bearing liabilities +10.6% +8.3% 25,332 24,174 22,905 22,723 23,389 646 621 774 2,113 608 1,841 426 2,373 790 2,290 1,905 3,154 1,279 1,900 2,647 21,744 17,193 18,261 18,310 19,647 Sep-22 Dec-22 Mar-23 Jun-23 ■Client deposits and notes Due to credit institutions Borrowings Debt securities issued All currency data are in GEL m unless otherwise stated Borrowed funds maturity profile (US$, million)* As at 30 September 2023 14 175 154 Sep-23 2023 2024 Client deposits and notes increased to 85.8% of interest- bearing liabilities as at 30 September 2023, compared with 75.1% as at 30 September 2022 *Converted at exchange rates as at 30 September 2023 In 2Q23 the borrowings legend was incorrectly attributed to credit institutions 110 157 92 87 77 147 15 10 10 10 10 2025 2026 2027 2028 2029 2030 2031 2032 2033 Senior loans Bonds ■Subordinated loans 36#37Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 3Q23 AND 9M23 RESULTS | APPENDICIES: ADDITIONAL INFORMATION AND SEGMENT RESULTS 37#38Bank of Georgia's diversified loan book (gross loans by segment) 5,732 31% 8,224 45% 4,482 24% ■Retail Banking ■ SME Banking Corporate Banking As at 30 September 2023 Figures given for JSC Bank of Georgia standalone All currency data are in GEL m unless otherwise stated Total gross loans: GEL 18,438m Allowance for ECL: GEL 292m Total net loans: GEL 18,146m 38#39Retail Banking gross loan portfolio by product 44% 8% ■ Mortgage ■ Consumer ■ Other Figures given for JSC Bank of Georgia standalone As at 30 September 2023 48% Total gross loans: GEL 8,224m Allowance for ECL: GEL 164m Total net loans: GEL 8,059m Other products in Retail Banking include car loans, micro loans, card overdrafts, credit cards, pawn loans, and finance lease receivables 39#40Corporate Banking gross loan portfolio by sector Figures given for JSC Bank of Georgia standalone Other 25% Real estate 20% Electricity, gas and water supply 9% Manufacturing 15% As at 30 September 2023 Total gross loans: GEL 5,732m Allowance for ECL: GEL 68m Total net loans: GEL 5,664m Trade 10% Agriculture, Hunting and forestry 9% Hospitality 12% Top 10 CB borrowers: 18.0% of CB gross loan book Top 20 CB borrowers: 29.0% of CB gross loan book Sectors that represent more than 1% of CB gross loan portfolio: financial intermediation, service, mining and quarrying, transport and communication, construction, health and social work 40#41Retail Banking - loan and deposit portfolio Loan portfolio +13.2% +13.8% All currency data are in GEL m unless otherwise stated Deposit portfolio +15.8% +18.9% +4.2% +4.2% +3.9% +3.1% 7,122 7,305 7,392 7,735 8,059 Growth on a constant 10,133 10,924 10,663 11,255 11,729 1,972 1,998 1,883 1,913 1,902 currency basis 7,567 8,060 7,613 7,854 8,066 5,150 5,307 5,508 5,823 6,157 2,565 2,864 3,049 3,401 3,663 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Loan yield Net loans GEL ■Net loans FC ■Client deposits and notes GEL Cost of deposits 17.2% 16.7% 16.9% 16.7% 16.5% 17.1% 8.6% 16.7% 8.1% 14.0% 13.9% 14.3% 14.3% 14.0% 6.7% 7.0% 6.3% 5.9% ■Client deposits and notes FC 8.2% 8.3% 8.1% 8.6% 8.2% 13.7% 14.2% 6.2% 6.6% 5.8% 2.6% 2.5% 2.7% 2.9% 3.0% 2.7% 2.9% 0.5% 0.6% 0.7% 0.7% 0.8% 0.6% 0.7% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Loan yield Loan yield (GEL) Loan yield (FC) 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 -Cost of deposits Cost of deposits (GEL) Cost of deposits (FC) 41 In the first quarter of 2023 we split the SME Banking segment from Retail Banking and transferred the majority of the Micro portfolio, where customers had business-related needs, to SME Banking. The remaining Micro portfolio has been transferred to Mass Retail. The comparative figures have been restated accordingly to reflect this change#42SME Banking - loan and deposit portfolio Loan portfolio +12.8% +13.7% All currency data are in GEL m unless otherwise stated Deposit portfolio +34.6% +36.2% +2.0% +7.2% +1.6% +6.6% 3,919 4,064 4,091 4,336 4,422 Growth on a 1,628 1,745 constant 1,509 1,469 1,793 1,856 1,799 1,909 1,885 currency basis 1,296 673 625 656 595 564 2,127 2,208 2,292 2,427 2,537 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 ■Net loans GEL Net loans FC Loan yield 733 853 874 1,003 1,072 Sep-22 Dec-22 Mar-23 ■Client deposits and notes GEL Cost of deposits Jun-23 Sep-23 ■Client deposits and notes FC 13.5% 13.7% 13.9% 13.9% 13.8% 13.9% 13.4% 3.1% 3.3% 3.0% 2.5% 2.5% 2.6% 2.4% 11.3% 10.2% 10.5% 11.4% 11.0% 11.4% 9.8% 1.7% 1.9% 1.6% 1.3% 1.0% 1.0% 1.0% 8.2% 8.2% 7.4% 8.0% 6.5% 6.7% 6.3% -0.6% -0.5% -0.4% -0.5% -0.5% -0.9% -1.0% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Loan yield Loan yield (GEL) Loan yield (FC) Cost of deposits Cost of deposits (GEL) Cost of deposits (FC) 42 The negative cost of deposits is attributed to the gains from EUR/USD swap transactions part of which are included in the calculation of the cost of deposits#43Corporate Banking - loan and deposit portfolio Loan portfolio +23.7% All currency data are in GEL m unless otherwise stated Deposit portfolio +49.1% +51.1% +25.1% +25.8% +2.9% +24.6% +2.0% 4,580 4,926 4,925 5,506 5,664 Growth on a 7,419 5,932 constant 4,975 5,334 1,755 4,825 currency 1,581 3,974 4,146 basis 1,707 3,375 3,604 3,644 1,800 1,803 5,664 4,351 3,175 3,627 3,021 1,205 1,322 1,281 1,532 1,519 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Loan yield Net loans GEL ■Net loans FC Sep-22 Dec-22 Mar-23 ■Client deposits and notes GEL Cost of deposits Jun-23 Sep-23 ■Client deposits and notes FC 9.7% 9.7% 9.9% 10.2% 15.4% 9.6% 9.7% 14.7% 14.8% 11.2% 14.8% 14.5% 11.5% 11.8% 14.7% 15.0% 9.2% 7.5% 7.3% 7.1% 11.5% 6.7% 6.2% 6.2% 6.1% 10.2% 8.9% 9.1% 10.3% 10.8% 10.3% 9.7% 8.6% 7.1% 7.4% -0.1% -0.2% 0.1% 0.0% 0.2% -0.1% 0.1% 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 3Q22 4Q22 1Q23 2Q23 3Q23 9M22 9M23 Loan yield Loan yield (GEL) Loan yield (FC) Cost of deposits Cost of deposits (GEL) Cost of deposits (FC) 43 The negative cost of deposits is attributed to the gains from EUR/USD swap transactions part of which are included in the calculation of the cost of deposits#44Borrowers and FX risk % is given for Bank of Georgia standalone gross loan portfolios Retail Banking GEL loans (% of segment portfolio) 76.7% FC loans exposed to FX risk* (% of segment portfolio) 18.1% FC loans with no exposure to FX risk (% of segment portfolio) 5.1% Mortgages 30.8% 14.0% 3.7% Consumer loans 44.2% 4.1% 1.3% SME Banking 57.4% 41.2% 1.5% Corporate 26.7% 33.1% 40.2% Banking Total 56.5% 28.4% 15.1% *Loans disbursed in FC when a borrower's income is in GEL 44#45Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 3Q23 AND 9M23 RESULTS | APPENDICIES: CORPORATE GOVERNANCE 45#46We are a FTSE-250 company with a diversified institutional investor base Top 10 shareholders* 30 September 2023 Shareholder base by country 30 September 2023 Shareholder name Ownership 1 JSC Georgia Capital** 19.6% 27.9% 2 M&G Investment Management Ltd 5.0% 38.3% 3 BlackRock 5.0% 4 Dimensional Fund Advisors (DFA) 4.3% 5 Vanguard 3.7% 6 JP Morgan Asset Management 3.5% 7 Gemsstock Ltd 2.6% 22.0% 5.2% 8 Van Eck Associates Corporation 2.0% 4.6% 9 Firebird Management LLC 2.0% ■UK and Ireland 2.0% 10 Schroder Investment Management Ltd 1.8% ■ USA ■Scandinavia * Shareholders are grouped based on their parent companies ** Previously, BGEO Group PLC comprised a banking business and an investment business. In 2017 BGEO Group PLC demerged into two separately listed and independently managed public companies - Bank of Georgia Group PLC, the banking business, and Georgia Capital PLC, the investment business. The demerger was completed on 29 May 2018. In 2018 Bank of Georgia Group PLC issued additional 9,784,716 shares to Georgia Capital as part of the demerger. JSC Georgia Capital will exercise its voting rights at the Group's general meetings in accordance with the votes cast by all other Group shareholders as long as JSC Georgia Capital's percentage holding in Bank of Georgia Group PLC is greater than 9.9% ■Luxembourg Unvested and unawarded shares for management and employees ■ Other** ** Includes the 19.6% shareholding of JSC Georgia Capital 46 46#47Board of Directors - governance which facilitates sustainable value creation Mel Carvill, Non-Executive Chair Experience: formerly Senior Independent Director of Sanne Group Plc, Head of Corporate Finance and M&A, and Strategic Planning and Chief Risk Officer at the Generali Group and President of PPF Partners. Non- Executive Director at Home Credit N.V., Vice Chair of Aviva-Cofco Life Insurance Company Ltd. Véronique McCarroll, Independent Non-Executive Director Experience: Deputy CEO at Orange Bank S.A.. Formerly Executive Director at Crédit Agricole CIB, Partner at McKinsey & Company, Oliver Wyman and Andersen/ Ernst & Young. Tamaz Georgadze, Independent Non-Executive Director Experience: Executive Director and founder of Raisin GmbH; formerly Partner at McKinsey & Company in Berlin and aide to the President of Georgia. Cecil Quillen, Independent Non-Executive Director Experience: Partner at Linklaters LLP and leader of the firm's U.S. securities practice, with nearly 30 years of experience working on a broad spectrum of securities and finance matters. Officer of the Securities Law Committee of the International Bar Association. Hanna Loikkanen, Senior Independent Non-Executive Director Experience: Non-Executive Director of Finn Fund, of Eastnine AB and of VEF Ltd and Non-Executive Board Member of Caucasus Nature Fund. Formerly worked in senior management roles at Nordea Finance, SEB and East Capital and was CEO of FIM Group. Mariam Megvinetukhutsesi, Independent Non-Executive Director Experience: 20 years of experience in financial services including in banking appointments at the EBRD; formerly Head of Georgia's Investors Council Secretariat and Deputy CEO at TBC Bank. Al Breach, Independent Non-Executive Director Experience: Executive Director and co-founder of Gemsstock Ltd, co- founder and Director of The Browser and Furka Advisors AG, and advisor to East Capital. Formerly a Russia and FSU economist at Goldman Sachs, and Managing Director at Brunswick UBS. Jonathan Muir, Independent Non-Executive Director Experience: CEO of LetterOne Holdings SA and of LetterOne Investment Holdings; formerly Partner at Ernst & Young and CFO and Vice President of Finance and Control of TNK-BP. Archil Gachechiladze, Chief Executive Officer Experience: With the Group since 2009 in various roles including CFO of BGEO Group and CEO of Georgian Global Utilities (previously part of BGEO Group Plc). Formerly held senior positions at EBRD, KPMG Barents, and Lehman Brothers. 33% Female 6 Nationalities 47#48Diverse and experienced management team creating opportunities Archil Gachechiladze, Chief Executive Officer With the Group since 2009, serving in various senior positions, including as Deputy CEO/CB, Deputy CEO/IM, CFO of BGEO Group, Deputy CEO/CIB. Over 20 years of banking and financial services experience locally and internationally, including at Lehman Brothers Private Equity, Salford Equity Partners, EBRD, KPMG Barents. Holds an MBA with honors from Cornell University and is a CFA Charterholder. Nutsa Gogilashvili, Deputy CEO, Head of Mass Retail Banking With the Group since 2016. Prior to her recent appointment, served as Head of Customer Experience and Human Capital Management. Prior to joining the Group, held various senior positions in local and international financial institutions. Holds an MSc in Finance from Bayes Business School in London. Eter Iremadze, Deputy CEO, Premium Banking With the Group since 2006, serving in various senior positions, including as Head of SOLO and Head of Blue Chip Corporate Banking Unit. Prior to becoming Head of SOLO, served as Head of Strategic Projects Department in Georgian Global Utilities (formerly part of BGEO Group). Holds an MBA from Grenoble Graduate School of Business. Zurab Kokosadze, Deputy CEO, Corporate and Investment Banking With the Group since 2003, serving in various senior positions, including as Head of Corporate Banking, Deputy Head of Corporate Banking, FMCG sector head. Holds an MBA from Grenoble Graduate School of Business. Sulkhan Gvalia, Deputy CEO, Chief Financial Officer With the Group since 2004, serving in various senior positions, including as Chief Risk Officer and Head of Corporate Banking. Prior to joining the Group, he served as Deputy CEO of TbilUniversal Bank. Holds a law degree from Tbilisi State University. David Chkonia, Deputy CEO, Chief Risk Officer With the Group since 2021. Mr Chkonia was appointed as Deputy CEO, Chief Risk Officer of JSC Bank of Georgia in September 2022. Previously, held senior positions in local and international organisations, including TBC Bank, BlackRock and PIMCO. Holds a BSc from San Jose State University and an MBA from the Wharton School of the University of Pennsylvania. Zurab Masurashvili, Head of SME Business Banking With the Group since 2015. Previously, Head of Express Business, Head of MSME Business, Head of Retail Business at the Bank. Prior to joining the Group, held several positions in international organisations - EBRD, World Bank, GTZ, served as Deputy Chairman of the Board of Directors at PrivatBank. Holds a degree in Geology from Georgian Technical University. David Davitashvili, Deputy CEO, Information Technology With the Group since 2006. Appointed as Deputy CEO in charge of data analytics and information technology in August 2022. Previously, held various senior positions, including as Deputy Chief Operating Officer and Head of Internal Audit. Holds an undergraduate and master's degrees in management and microeconomics from Tbilisi State University and an Executive MBA from Bayes Business School. 48#49Diverse and experienced management team creating opportunities Mikheil Gomarteli, Deputy CEO, Strategic Projects Direction With the Group since 1997, serving in various senior positions. Deputy CEO since 2009, leading the Retail business. Appointed as Director of Strategic Projects Direction of JSC Bank of Georgia in September 2022. Holds an undergraduate degree in economics from Tbilisi State University. Vakhtang Bobokhidze, Co-director of International Business With the Group since 2005. Joined as Quality Control Manager. Left the Group in 2010 and rejoined the Group in December 2010. Previously, Deputy CEO, Information Technology, Data Analytics, Digital Channels. Holds an MBA from Tbilisi State University. Ana Kostava, Chief Legal Officer With the Group since 2018. Prior to her recent appointment, served as Chief Legal Officer of the Bank under the direct supervision of the Deputy CEO, Chief Risk Officer, since June 2020. Before joining the Bank, held various positions in local and international companies. Ms Kostava is an Associate Lecturer at Free University of Tbilisi. Holds an LLM from the University of Cambridge. Elene Okromchedlishvili, Head of Human Capital With the Group since 2017. Prior to her recent appointment, served as Head of Business Processes, Lean Transformation and Transactions. Previously, held various positions - Head of IFRS Reporting Unit and Head of Operational Efficiency and Cost management Unit. Holds a bachelor's degree in business administration from Free University of Tbilisi and an MBA from IE Business School. Levan Gomshiashvili, Chief Marketing and Digital Officer With the Group since 2019. Founder of HOLMES&WATSON, a creative agency, where he served as Account Manager for clients in banking and other sectors. Founder of Tbilisi School of Communication. Started his career at the Georgian Railway, covering advertising and project management. Holds an MSc in Management from the University of Edinburgh. Giorgi Gureshidze, Head of Operations With the Group since 2023. Prior to his recent appointment, he held various positions at Georgia Global Utilities, including Chief Financial Officer during 2020-2023. Holds a bachelor's degree in Economics and Global Affairs from Yale University. Andro Ratiani, CEO of Digital Area With the Group since 2018. Previously, Head of Innovations at Bank of Georgia. Broad experience in various global companies, including UBS AG Investment & Wealth Management Bank in New York, Wells Fargo, and IHS Markit. Holds an master's degree in technology management from Columbia University. 49#50Delivering social impact Our impact focus areas Financial inclusion Employee empowerment Education in communities Objectives Material topics To use the power of technology and product innovation to drive digital financial inclusion in Georgia To be the employer of choice for top talent, providing equal opportunities for development and ensuring the best employee experience based on our values and business principles To give more school students in Georgia access to quality educational infrastructure and opportunities Customer satisfaction Customer protection Financial inclusion and empowerment Product innovation Information security and privacy Key targets for 2023 70K MAU of sCoolApp in December 2023 70K Human capital development Diversity, inclusion, and equity Human rights Financial inclusion and empowerment Product innovation 57K 51K 54-62 54 As of Sep 2023 Number of self-employed As of Sep 2023 borrowers as of eNPS range Apr 2023 31 December 2023 50#51ESG scores from independent rating agencies ISS* ENVIRONMENT 3 SOCIAL 2 GOVERNANCE MSCI** Bank of Georgia falls into the highest scoring range relative to global peers CCC B BB BBB A AA AAA LAGGARD AVERAGE FTSE4GOOD Index Included in the global responsible investment index FTSE4GOOD since 2017 LEADER * ISS uses a 1-10 scale. 1 indicates lower governance risk, while 10 indicates higher governance risk versus its index or region. 1 indicates higher E&S disclosure, while 10 indicates lower E&S disclosure. Scores are as of November 2023 ** MSCI score is as at 26 September 2023 557 51#52Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 3Q23 AND 9M23 RESULTS | APPENDICIES: ADDITIONAL MACROECONOMIC DATA 52 42#532011 2012 Source: GeoStat 2013 2014 2015 7.4% 6.4% 2016 3.6% Diversified and resilient economy Gross domestic product Nominal GDP by sector, 2022 Nominal GDP per capita, US$ Real GDP growth, % 2017 4.8% 4.8% 5.0% 4.4% 3.0% 2.9% 2018 2019 2020 -6.8% 2021 2022 10.5% 10.1% Other 27.6% Accom. & food service 3.8% Information & commun. 4.7% Financial & Source: GeoStat insurance 4.9% 8.0% Transport & storage 6.5% Agriculture 7.0% Construction 53 Trade 15.2% Real estate 9.9% Manufacturing 12.5%#54Source: IMF Belarus 0.6% Azerbaijan 1.5% Russia 1.5% Czech Rep. 1.9% Croatia 1.9% Slovak Rep. 2.1% Bulgaria 2.2% Latvia 2.8% Hungary 2.9% Moldova 2.9% Estonia 3.3% Kazakhstan 3.5% Romania 3.5% Lithuania 3.5% Poland 3.7% Armenia 4.5% Georgia 4.7% Türkiye 5.7% Uzbekistan Source: IME Uzbekistan 9,634 Moldova 15,617 Azerbaijan 17,668 Armenia 17,795 Georgia 20,244 with ample room for further growth One of the fastest-growing economies in the region 2011-2022 average Comparative real GDP growth rates, GDP per capita in PPP international dollars, 2022 Belarus 22,312 Bulgaria 30,216 Kazakhstan 30,544 Russia 6.1% 33,263 Latvia 38,545 Romania 38,721 Türkiye 39,301 Slovak Rep. 39,490 Croatia 40,143 Hungary 42,044 Poland 43,480 Estonia 45,206 Lithuania 47,107 Czech Rep. 49,421 54#55Armenia 7.0% 5.0% Georgia 6.2% 4.8% Uzbekistan Source: IMF World Economic Outlook, October 2023 Kazakhstan 5.5% 5.5% 4.6% 4.2% Türkiye 4.0% 3.0% Kyrgyz Rep. 3.4% 4.3% Azerbaijan 2.5% 2.5% Russia 2.2% 1.1% Moldova 2.0% Belarus 1.6% 1.3% 4.3% Georgia 2.4% 2.7% Source: IMF World Economic Outlook, October 2023 Armenia 3.5% 4.0% Belarus 4.7% 5.7% Real GDP growth forecasts by IMF 2022 2023F 2024F Russia 5.3% 6.3% Uzbekistan Azerbaijan 10.2% 10.0% 10.3% 5.7% Kyrgyz Rep. 11.7% 8.6% 55 region at the lowest inflation in the following years Georgia is expected to deliver one of the highest growth rates in the Moldova 13.3% 5.0% Kazakhstan Türkiye 15.0% 9.0% Average inflation forecasts by IMF 2022 2023F 2024F 51.2% 62.5%#56300 600 1,200 900 Unemployment down to historically low levels Labor market dynamics Employed, '000 persons - Unemployment rate, % 30% 100% 100% 1,500 11.9% 27.2% 26.7%26.4% Industry 1,183 1,212 23.0% 21.9% 21.7% 21.6% 20.6% 19.2% 20% 18.5% 18.0% 17.6% 17.3% 16.7% 60% 1,308 1,272 1,327 15% Composition of employment, 2022 25% 32.2% 80% 17.9% 80% Agriculture 40% 70.3% 10% 20% 5% 0% 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 2Q23 Source: GeoStat Source: GeoStat 60% ■Services (incl. construction) 40% 67.8% 20% 0% 99 56 Self- employed Hired#57-10% 0% -5% -5.3% 2010 Fiscal consolidation on the back of strong economic growth Fiscal balance as % of GDP -2.0% -1.9% -2.1% -2.4% -1.7% -2.7% -3.1% -2.3% -2.6% -2.8% -2.8% -9.3% -6.1% Consolidated budget tax revenues, GEL m 2021 2022 2023 +19.4% y-o-y growth in 9M23 (+29.9% in 2022) -2.2% -2.5% • 2,000 • -2.3% -2.1% 1,800 1,600 1,400 1,200 1,000 800 600 400 200 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F 2026F 2027F Source: MOF, GeoStat, forecasts as of 2023 budget law Note: Deficit calculated as net lending / borrowing minus budget lending Source: MOF Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 57 40#58Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 3Q23 AND 9M23 RESULTS | APPENDICIES: FINANCIAL INFORMATION 58#59Income statement highlights GEL thousands 3Q23 3Q22 Change y-o-y 2Q23 Change q-0-q 9M23 9M22 Change y-o-y INCOME STATEMENT HIGLIGHTS Net interest income Net fee and commission income Net foreign currency gain Net other income Operating income Operating expenses 419,976 295,071 42.3% 395,909 6.1% 118,949 97,790 5,738 642,453 (185,314) 79,662 150,686 49.3% -35.1% 1,092 526,511 425.5% 22.0% (160,870) Profit from associates 302 250 Operating income before cost of risk 457,441 365,891 Cost of risk (35,805) (48,048) 15.2% 20.8% 25.0% -25.5% Net operating income before non-recurring items 421,636 317,843 Net non-recurring items 58 428 89,165 100,018 -2.2% 82,083 -93.0% 667,175 -3.7% (179,365) 3.3% -55.7% 488,492 -6.4% (32,152) 11.4% 32.7% 456,340 -7.6% -86.4% NMF 33.4% 682 1 1,187,785 320,416 268,460 96,476 9,162 1,873,137 1,417,111 32.2% (528,849) (460,125) 14.9% 1,202 626 92.0% 1,345,490 957,612 40.5% (116,255) (66,392) 75.1% 1,229,235 891,220 37.9% 708 -100.0% 847,691 40.1% 219,559 340,699 -21.2% 45.9% 953.0% Profit before income tax expense and one-off items 421,694 318,271 Income tax expense (64,330) (28,053) 32.5% 129.3% 456,341 (68,878) -7.6% -6.6% Profit adjusted for one-off items 357,364 290,218 23.1% 387,463 -7.8% 1,229,235 (183,079) 1,046,156 891,928 37.8% (85,653) 113.7% 806,275 29.8% One-off items Profit 357,364 290,218 23.1% 21,061 408,524 -12.5% NMF 21,061 1,067,217 NMF 806,275 32.4% Basic earnings per share 8.12 Diluted earnings per share 7.92 6.27 6.19 29.5% 9.14 -11.2% 23.76 27.9% 8.94 -11.4% 23.22 17.13 16.99 38.7% 36.7% 59#60Balance sheet highlights GEL thousands BALANCE SHEET HIGHLIGHTS Liquid assets Cash and cash equivalents Change Change Sep-23 Sep-22 y-o-y Jun-23 q-o-q 10,258,057 2,959,832 9,486,712 2,773,069 8.1% 9,067,120 13.1% 6.7% 2,155,256 37.3% Amounts due from credit institutions 1,878,849 2,406,119 -21.9% 1,931,461 -2.7% Investment securities 5,419,376 4,307,524 25.8% 4,980,403 8.8% Loans to customers and finance lease receivables 19,010,599 16,162,942 17.6% 18,282,017 4.0% Property and equipment 430,181 400,874 7.3% 411,018 4.7% All remaining assets 1,150,976 938,456 22.6% 957,063 20.3% Total assets Client deposits and notes 30,849,813 26,988,984 14.3% 28,717,218 7.4% 21,743,543 17,193,088 26.5% 19,647,354 10.7% Amounts owed to credit institutions 3,163,001 4,937,760 -35.9% 3,120,305 1.4% Borrowings from DFIs 2,084,165 1,940,822 7.4% 1,636,522 27.4% Short-term loans from central banks 180,099 2,060,324 -91.3% 442,127 -59.3% Loans and deposits from commercial banks 898,737 936,614 -4.0% 1,041,656 -13.7% Debt securities issued 425,560 774,152 -45.0% 621,229 -31.5% All remaining liabilities 782,531 470,621 66.3% 795,318 -1.6% Total liabilities Total equity Book value per share 26,114,635 23,375,621 11.7% 24,184,206 8.0% 4,735,178 3,613,363 31.0% 4,533,012 4.5% 107.64 78.81 36.6% 102.25 5.3% 60#61Key ratios KEY RATIOS 3Q23 3Q22 2Q23 9M23 9M22 ROAA* ROAE* Net interest margin 4.8% 4.4% 5.6% 4.9% 4.3% 30.7% 32.4% 34.6% 31.1% 32.0% 6.6% 5.3% 6.6% 6.5% 5.3% Loan yield 12.6% 11.6% 12.7% 12.6% 11.4% Liquid assets yield 4.7% 4.2% 4.7% 4.6% 4.3% Cost of funds 4.7% 4.9% 4.8% 4.7% 5.0% Cost of client deposits and notes 4.2% 3.6% 4.1% 4.0% 3.6% Cost of amounts owed to credit Institutions 8.0% 9.1% 8.3% 8.3% 9.0% Cost of debt securities issued 8.6% 7.3% 7.9% 8.0% 7.1% Cost:income ratio* 28.8% 30.6% 26.9% 28.2% 32.5% NPLs to gross loans 2.4% 2.4% 2.4% 2.4% 2.4% NPL coverage ratio 69.1% 89.4% 70.4% 69.1% 89.4% NPL coverage ratio adjusted for the discounted value of collateral 122.1% 138.0% 126.4% 122.1% 138.0% Cost of credit risk ratio 0.6% 1.0% 0.8% 0.8% 0.8% NBG (Basel III) CET 1 capital adequacy ratio n/a 14.8% n/a n/a 14.8% Minimum regulatory requirement n/a 11.6% n/a n/a 11.6% NBG (Basel III) Tier I capital adequacy ratio n/a 17.0% n/a n/a 17.0% Minimum regulatory requirement n/a 13.8% n/a n/a 13.8% NBG (Basel III) Total capital adequacy ratio Minimum regulatory requirement n/a 20.3% n/a n/a 20.3% n/a 17.2% n/a n/a 17.2% IFRS-based NBG (Basel III) CET 1 capital adequacy ratio 18.5% n/a 18.7% 18.5% n/a Minimum regulatory requirement 14.7% n/a 14.6% 14.7% n/a IFRS-based NBG (Basel III) Tier I capital adequacy ratio 20.4% n/a 20.6% 20.4% n/a *Ratios for 2Q23 and 9M23 were adjusted for a one-off GEL 21.1 million of other income related to the settlement of an outstanding legacy claim Minimum regulatory requirement 16.9% n/a 16.9% 16.9% n/a IFRS-based NBG (Basel III) Total capital adequacy ratio 22.7% n/a 22.6% 22.7% n/a Minimum regulatory requirement 19.9% n/a 19.8% 19.9% n/a 61#62Definitions Strategic terms Active merchant At least one transaction executed within the past month Active POS terminal At least one transaction executed within the past month Digital daily active user (Digital DAU) Average daily number of retail customers who logged into our mBank/iBank at least one within the past month Digital monthly active user (Digital MAU) Number of retail customers who logged into our mBank/iBank at least once within the past month; when referring to business customers, Digital MAU means number of business customers who logged into our Business mBank/iBank at least once within the past month MAU (Monthly active user - retail or business) Number of customers who satisfied pre-defined activity criteria within the past month Payment MAU Number of Bank's retail customers who made at least one payment with a BOG card within the past month Ratio definitions Basic earnings per share Profit for the period attributable to shareholders of the Group divided by the weighted average number of outstanding ordinary shares over the same year Book value per share Total equity attributable to shareholders of the Group divided by ordinary shares outstanding at period-end; Ordinary shares outstanding at period-end equals number of ordinary shares at period-end less number of treasury shares at period-end Cost of credit risk ratio Expected loss on loans to customers and finance lease receivables for the period divided by monthly average gross loans to customers and finance lease receivables over the same period (annualised where applicable) Cost of deposits Interest expense on client deposits and notes for the period divided by monthly average client deposits and notes over the same period (annualised where applicable) Cost of funds Interest expense for the period divided by monthly average interest-bearing liabilities over the same period (annualised) Cost to income ratio Operating expenses divided by operating income Interest-bearing liabilities Amounts owed to credit institutions, client deposits and notes, and debt securities issued Interest-earning assets (excluding cash) Amounts due from credit institutions, investment securities (but excluding corporate shares) and net loans to customers and finance lease receivables Leverage (times) Total liabilities divided by total equity Liquid assets Cash and cash equivalents, amounts due from credit institutions and investment securities Liquidity coverage ratio (LCR) High-quality liquid assets divided by net cash outflows over the next 30 days (as defined by the NBG). Calculations are made for Bank of Georgia standalone, based on IFRS. Loan yield Interest income from loans to customers and finance lease receivables for the period divided by monthly average gross loans to customers and finance lease receivables over the same period (annualised where applicable) NBG (Basel III) Common Equity Tier I (CET1) capital adequacy ratio Common Equity Tier I capital divided by total risk weighted assets, both calculated in accordance with the requirements of the NBG. Calculations are made for Bank of Georgia standalone, based on IFRS. NBG (Basel III) Tier I capital adequacy ratio Tier I capital divided by total risk weighted assets, both calculated in accordance with the requirements of the NBG. Calculations are made for Bank of Georgia standalone, based on IFRS. NBG (Basel III) Total capital adequacy ratio Total regulatory capital divided by total risk weighted assets, both calculated in accordance with the requirements of the NBG. Calculations are made for Bank of Georgia standalone, based on IFRS. Net interest margin (NIM) Net interest income for the period divided by monthly average interest earning assets excluding cash over the same period (annualised where applicable) Net stable funding ratio (NSFR) Available amount of stable funding divided by the required amount of stable funding (as defined by the NBG). Calculations are made for Bank of Georgia standalone, based on IFRS. Non-performing loans (NPLs) The principal and/or interest payments on loans overdue for more than 90 days; or the exposures experiencing substantial deterioration of their creditworthiness and the debtors assessed as unlikely to pay their credit obligation(s) in full without realisation of collateral NPL coverage ratio Allowance for expected credit loss of loans and finance lease receivables divided by NPLs NPL coverage ratio adjusted for discounted value of collateral Allowance for expected credit loss of loans and finance lease receivables divided by NPLs (discounted value of collateral is added back to allowance for expected credit loss) One-off items - Significant items that do not arise during the ordinary course of business Operating leverage Percentage change in operating income less percentage change in operating expenses Return on average total assets (ROAA) Profit for the period divided by monthly average total assets for the same period (annualised where applicable) Return on average total equity (ROAE) Profit for the period attributable to shareholders of the Group divided by monthly average equity attributable to shareholders of the Group for the same period (annualised where applicable) NMF Not meaningful Constant currency basis To calculate the q-o-q growth of loans and deposits without the currency exchange rate effect, we used the USD/GEL exchange rate of 2.6177 as of 30 June 2023. To calculate the y-o-y growth without the currency exchange rate effect, we used the USD/GEL exchange rate of 2.8352 as of 30 September 2022 62 42#63Company information Registered address 42 Brook Street London W1K 5DB United Kingdom Registered under number 10917019 in England and Wales Secretary Computershare Company Secretarial Services Limited The Pavilions Bridgwater Road Bristol BS13 8FD United Kingdom Stock listing London Stock Exchange PLC's Main Market for listed securities Ticker: "BGEO.LN" Contact information Bank of Georgia Group PLC Investor Relations Telephone: +44 (0) 203 178 4052; +995 322 444444 (7515) E-mail: [email protected] www.bankofgeorgiagroup.com Auditors Ernst & Young LLP 25 Churchill Place Canary Wharf London E14 5EY United Kingdom Registrar Computershare Investor Services PLC The Pavilions Bridgwater Road Bristol BS99 6ZZ United Kingdom Please note that Investor Centre is a free, secure online service run by our Registrar, Computershare, giving you convenient access to information on your shareholdings. Investor Centre Web Address - www.investorcentre.co.uk Investor Centre Shareholder Helpline - +44 (0)370 873 5866 Share price information Shareholders can access both the latest and historical prices via the website, www.bankofgeorgiagroup.com 63